International Monetary Fund (IMF) chief Kristalina Georgieva said today that “severe shadows have fallen” on the outlook for the global economy since April and that she cannot rule out a possible global recession next year, given the heightened risks.
Georgieva told Reuters that within the next few weeks the IMF would revise down its forecast of 3.6% growth in 2022. This would be the third revision of forecasts since the beginning of the year. He added that IMF economists were still reviewing the new data.
The IMF is expected to release its updated forecast for 2022 and 2023 at the end of July. In April it had downgraded its forecast by one percentage point.
In 2021, the global economy registered a growth of 6.1%.
SOURCE: APE-ME
Source: Capital
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